Gold: America, the Bubble
The comments below are an edited and abridged synopsis of an article by John Ing
Americans believe they have the best military in the world. That said, when was the last war that America won? However, a by-product was the mighty American industrial machine that spent decades creating the supply/chain logistics that lowered costs, boosted profits and allowed multinationals to spread globally. Today, however, this exceptionalism has led to shortages from semiconductors to lumber to gasoline as the pandemic exposed the vulnerability of America’s supply chains, leading to a spike in inflation.
We also believe that American exceptionalism puts democracy under siege. Numerous red lines have passed, and beset by negativism, expensive forever wars and Trump’s protectionism, trust in America’s competence was undermined. The decay of international trading norms made countries wary of the US.
Up for discussion: American exceptionalism; inflation is back; transitory or not; Fed’s balance sheet; that Seventies Show; after losing the battle, can we win the Covid-19 war; cost of climate change; climate deniers; China’s ambitions grow as power shifts among nations; America is worse for it; the dollar is not forever; déjà vu; recommendations; Agnico-Eagle Mines; B2Gold Corp; Centerra Gold Inc; Kinross Gold Corp; and Lundin Gold I